Yes, it may very well be that "the genie is out of the bottle," as so many are fond of saying. But the next sentence should always be, "And that's a real shame." Not, "Ha! Now the record industry will have to change!"
As for the RIAA "going the way of the buggy whip," that's a really faulty analogy. Buggies became obsolete because someone came up with a better, legal product -- not because consumers began stealing buggies and ran buggy sellers out of business.
If the record industry were to die of natural causes -- lack of consumer demand or other economic factors -- that would be something any capitalist can live with, however regrettable it may be. To watch the record industry be killed by rampant theft, however, is another thing altogether. Anyone who calls him or herself "conservative" shouldn't be nonchalant about it -- and certainly shouldn't be rejoicing.
But if I steal your buggy, then you are one buggy poorer. It is a physical object.
If I copy the information on your CD, then you still have all that information yourself. No one is poorer.
If the music industry don't make their CDs uncopiable, and nevertheless put them out into a market saturated with huge hard drives and mountains of blank CDs, then that is their decision.